Mr. Dayton to Mr. Seward
Sir: The within slip, cut from the London Daily News, will give you all further information as to the £3,000,000 “seven per cent. cotton loan” about to be negotiated in Europe. The chances for speculation, the sympathy for the south, and the belief in its ultimate success, will probably procure this loan to be taken.
The allegation is that Erlanger & Co., Frankfort, Germany, are the principal takers; but the reliance, without doubt, is mainly upon Liverpool, London, and Manchester. The son of Erlanger in Paris is counted upon to get off portions of the loan here. * * * * * * *
I am your obedient servant,
Hon. William H. Seward, Secretary of State, &c.